GMAC boosts size of note sale to $1.5 billion

Newswire

NEW YORK, May 18 (Reuters) - General Motors Corp.'s finance arm General Motors Acceptance Corp. on Tuesday raised its planned global note sale to $1.5 billion from $1 billion, joint lead manager Banc of America Securities said on Tuesday. GMAC is expected to sell the notes at a yield of 1.90 percentage points more than Treasuries. Citigroup Global Markets and J.P. Morgan are also managing the sale, expected to be priced later on Tuesday. GMAC is rated "BBB" by Standard & Poor's, its ...

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